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CBRE Markets $65M Sale of 401 Oberlin Multifamily Complex

Raleigh, NC (February 6, 2015) – CBRE has finalized the sale of the Class-A 401 Oberlin apartment community in Raleigh, NC. CBRE’s, Phil Brosseau, Malcolm McComb and Jeff Glenn of the Southeast Multifamily Group led the sale for Taft Family Offices, Grubb Ventures and Senkbeil Associates with financial advising from Steve Heffner of CBRE’s Debt and Structured Finance group.

The property, located in Downtown Raleigh, sold for $65 million to Atlanta based Tribridge Residential. Yates Dunaway oversees Tribridge’s investments in the Carolinas. The mixed-use development includes 216,596 sq. ft. of residential units and, conveniently, 8,958 sq. ft. of retail, including the first Tupelo Honey Café in Raleigh. Built in 2014, 401 Oberlin is a luxury mixed-use, midrise development with ground floor retail. The community is walkable to additional shops and restaurants at Cameron Village, a mid-century shopping village with the best retail, restaurants and nightspots in Raleigh. Equally as appealing, 401 Oberlin offers residents the tranquility of a tree-lined border.

Residents at 401 Oberlin benefit from generous amenities such as the only rooftop deck in the neighborhood, a first-class fitness center, an outdoor courtyard and a business center and game room, as well as modern and upscale interior finishes.

“The 401 Oberlin community is a legacy asset in an irreplaceable location,” Brosseau said. “Mr. Taft personally put his touch on every aspect of the development. Taft Family Offices, Grubb Ventures and Senkbeil Associates collaborated to create one of the highest-quality properties in Raleigh-Durham. Tribridge has purchased a special asset.”